NCM Capital Management LLC Sells 897 Shares of Intel Co. (NASDAQ:INTC)

NCM Capital Management LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 2.5% in the third quarter, HoldingsChannel reports. The fund owned 34,496 shares of the chip maker’s stock after selling 897 shares during the period. NCM Capital Management LLC’s holdings in Intel were worth $809,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in INTC. William B. Walkup & Associates Inc. acquired a new position in Intel during the second quarter worth $2,178,000. Swiss National Bank lifted its position in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares in the last quarter. Fortis Group Advisors LLC boosted its stake in shares of Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after buying an additional 157,991 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its stake in shares of Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after buying an additional 27,940 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in shares of Intel by 104.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock valued at $1,427,000 after acquiring an additional 31,143 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

NASDAQ INTC opened at $24.05 on Friday. The firm has a 50-day moving average price of $23.48 and a two-hundred day moving average price of $25.93. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a market capitalization of $103.73 billion, a P/E ratio of -6.47 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial upped their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Cantor Fitzgerald decreased their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, UBS Group cut their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.12.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.